Renasant Corp (RNST) PT Raised to $44 at Raymond James

Raymond James analyst Michael Rose raised the price target on Renasant Corp (NYSE: RNST) to $44.00 (from $40.00) while maintaining a Strong Buy rating.

The analyst comments "We reiterate our Strong Buy rating on RNST shares following solid 2Q25 results that were also noisy (due to the FBMS acquisition) where core PPNR exceeded our forecasts/ consensus. Despite some moving parts related to accretion income and the impact of the CECL double count, underlying trends were relatively solid and reflected: (1) stronger organic loan/ deposit growth of 6.9% ann./ 6.8% ann; (2) a higher core/ reported NIM vs. our forecasts/ consensus which drove upside in net interest income; (3) credit trends remained benign where its combined LLR ratio ticked slightly higher to a robust 1.57%; and (4) core noninterest expenses were lower than projected/ consensus. While core fee income was lower than projected, our 2026 EPS estimate is unchanged (detailed below) where stronger NII is essentially offset by higher noninterest/ credit costs and lower fees vs. our prior model. In turn, we continue to view risk-reward positively where above-peer projected profitability supports a premium P/E valuation in our view."

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